- The Jamaican Stock Exchange confirmed its partnership with the Canada-based Blockstation almost a year ago.
- Jamaica is going to start the trading of the digital asset on its stock exchange in June.
- Four companies from Australia, Canada, and Trinidad & Tobago will provide the first batch of security tokens to the JSE.
Jamaica is going to start the trading of the digital asset on its stock exchange as reported today. Blockstation, a partner company, will be providing the platform for this trade to take place, and it will start from June 2020.
Blockstation is well-known for its end-to-end trading platform for digital asset trade. It offers compliant listing, trading, clearing, and settlement of digital assets and security tokens.
Four companies from Australia, Canada, and Trinidad & Tobago will provide the first batch of security tokens to the JSE. These security tokens function like shares of a company.
The platform will be hosted in Jamaica, and four global companies have already come on board. They are Ontario based Bred, WiPay from Trinidad & Tobago, VeleV Capital, an investment company from Canada, and Lotus Energy, a renewable energy-based company from Australia.
Street Forest mentions that this digital portal will allow anyone with an account with an approved broker to trade online. On accessing the portal, one would see tokens listed at different prices, and an individual can purchase as many as they want. The broker will handle the arrangement of completing the transaction.
Jamaican Stock Exchange to trade Security Tokens
The Jamaican Stock Exchange confirmed its partnership with the Canada-based Blockstation almost a year ago. Since then, they have performed a couple of trials for digital asset trading securities. This partnership is a result of an upsurge in the virtual currency market and the growth of Bitcoins.
Lotus Energy is looking to raise around $50 million with the help of JSE. The CEO, Anthony Vippond, says that the capital would be used to complete contracts in Europe and India. The deals aim at providing 780 megawatts of power through a 30-year power purchase agreement with these places.
Aldwyn Wayne, Founder, and CEO of Wipay, is looking to extend his money transferring services through the Caribbean through the equity generated by JSE.
WiPay, a well-known company that provides a payment processing platform, started operating in the Jamaican market in 2019.